Home Buying in Miami>Question Details

Leonid Bauar, Home Buyer in Zurich, Switzerland

As an overseas buyer how to I keep up-to-date about the single home price developments in Miami...

Asked by Leonid Bauar, Zurich, Switzerland Mon Sep 17, 2007

... over the next 12 months? Any leads on web sites which give me the scoop on what is really happening?

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Answers

8
Locate a good agent in the Miami area, who can send you updates about the Miami market. I do that for my prospects in the Atlanta area
Web Reference: http://www.doyenrealty.com
0 votes Thank Flag Link Tue Dec 18, 2007
As someone who used to work on Wall Street and an expert in the markets in and around Miami Beach, Palm Beach and Fort Lauderdale, please call me directly or supply me with your email address, so I can send you the latest Facts and Trends Reports for the market areas that interest you.

For example in Miami Beach, 100 homes and condos sold in September with sales prices that were 85.6% of asking price. The average sales price was $721,914 and stayed on the market for 127 days. Call 1-800-639-3520 Ext. 9019 for Free Reports on Miami Beach (our 24-hour recorded info line).

There are currently 5,186 condos and homes for sale in the Miami Beach, which consists of zip codes 33139, 33140 and 33141. For customized, detailed reports and research from one of the leading real estate experts in the area, please do not hesitate to contact me at the toll free number above or call me directly at 786.553.0697 or email me at Michael@HomesForVIPs.com.

These reports show recent sales, available stats and facts and trends reports by zip code, area, city and/or building, and provide clients with an overall snapshot of inventory, closed sales, avg. sales price, sale price compared to list price, days on market and months of inventory.

Inventory reached its peak in May of this year at 5,501 condos and homes available for sale after climbing steadily for over two years. Inventory has leveled off in the last several months. Sales have been sharply down for most of the year indicating that buyers are still very hesitant about entering the market. There are a lot of good buys now with so much inventory on the market and with mortgage rates and financing options still very attractive for those with good credit, income and assets, we expect to see a nice increase in activity as the smart buyers start to buy.

Feel free to call me with any questions you might have.

Regards, Michael Sahlman, P.A.
0 votes Thank Flag Link Fri Nov 9, 2007
Leonid,

I compile data on certain cities around Miami for International buyers and sellers. Miami is composed of many submarkets, which happen to be incorporated as cities, such as Sunny Isles Beach, Miami Beach, etc. Many International buyers and sellers truly perceive these submarkets as "Miami", but each submarket acts differently. Example... Miami Beach real estate is pretty stable, whether it's a single family home or even a condo on the beach. Downtown Miami and the Brickell area is not stable right now.

Send me an email and let me know which area you are interested in as I compile these stats monthly.
0 votes Thank Flag Link Thu Sep 20, 2007
CIPS is a an organization that is part of the National Association of Realtors. This group, Certified International Property Speciaists have education, experience and resources available to them to assist international buyers and sellers.

Most of these agents will have the ability to set up automatic email notifications for you that will deliver property information on a regular basis about properties that meet your criteria.

Using the URL below, you can find the link on this page for "Find an International Specialist" and search for MIami CIPS members.

http://www.realtor.org/international/index.html
0 votes Thank Flag Link Mon Sep 17, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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Many of the major brokerages have websites and you can sign up for what they call "listing watch" to be emailed listings of properties in areas you are interested in.
0 votes Thank Flag Link Mon Sep 17, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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Hello,

Good Question. I would agree with Ute. The internet is ideal when you are far away from an area. Using the net can also help you to find a Realtor. Don't pick the first one check to see how long they have representing clients and in what areas of Miami they work, then email them with questions and see if you hit off.

Good Luck
0 votes Thank Flag Link Mon Sep 17, 2007
It is not my style to sell my services in these forums - but I produce monthly market reports that I publish on our blog at the beginning of each month. They cover Miami Shores, Bay Harbor Islands, Surfside and El Portal but also do others upon request.

You can also take a look at http://www.ActiveRain.com and find agents that produce market reports on a regular basis in the areas you are looking for.
Web Reference: http://www.miamism.com
0 votes Thank Flag Link Mon Sep 17, 2007
Hi Leonid. That's the beauty of the Internet. It does not have boundaries. I would contact a local agent in Miami and ask him/her to e-mail you quarterly market updates and provide you with a link to a website that provides solid data about the real estate market in Miami.
Web Reference: http://www.go2kw.com
0 votes Thank Flag Link Mon Sep 17, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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